Home
>
Tax
>
Car Donation: An Easy Way to Support Your Favorite Charity and Get a Tax Deduction

Car Donation: An Easy Way to Support Your Favorite Charity and Get a Tax Deduction

Most people look forward to getting their tax return, but one of the downsides to filing taxes is that you may find yourself owing the taxman come April 15. What do you do when you realize that you not only owe money, but you owe more than you can pay at the time?

The answer is: charitable deductions.

Did you know that charitable contributions are deductible from your taxes? Most people only think of donations as being cash, and giving away more cash that you don't have won't help you in this case. However, there is another option available - donate your car. Do you have an old car sitting around (even if it doesn't run) that you're not using or are having a hard time selling? If so, you're in luck! Many charities accept car donations, regardless of condition, and this contribution can be deducted from your taxes. There are a few steps you need to take in order to claim a deduction by way of car or other vehicle donation:

First thing you need to do is find out how much value you can get out of the car or other vehicle you plan to donate. Even old cars in poor condition are often accepted for donation, as they can still be sold for parts or scrap. There are sites that specialize in this kind of information, many of them free.

Find a charity or non-profit organization you believe in. It is one thing to donate a car simply for the tax relief, but find a charity that you feel strongly about to donate your car to. You won't only be helping yourself, you will be helping others that you care about.

Thirdly, make your donation - making sure that it is tax deductible. In most cases this will be the full value of the vehicle (actual market value, not Blue Book), but state laws may vary for state income tax purposes. If you have any question about this, you should see your tax advisor.

To prevent over-estimate, the IRS requires people who donate their car to produce a document from the charitable organization specifying the resale price of the car after the car is sold off. Automobiles with retail values up to $500 are exempt from this rule. In any case, make sure you get a receipt detailing your car donation. Requesting a receipt may also be necessary if you have your taxes prepared by a paid preparer.

Donating a car may sound like a big undertaking, but it's not. You can accomplish three things at once - getting rid of an old car that is taking up valuable space, helping your favorite charity, and getting a deduction on your income taxes. If you have an old car and want to reduce your tax payment, donating a car might be right for you!

For more information on car donation, please visit car donation for charity and tax relief.

quick home cleaning Arlington Heights ..

In The News:

In response to infostealer activity increasing 500% in a year and harvesting 1.7 billion user credentials, the CyberGuy offers four ways to stay safe from infostealer malware.

Looking Glass has developed a 27-inch light-field display that allows you to see digital objects in three dimensions without headsets or glasses.

A CCTV video purportedly originating from a Chinese factory shows a robot appearing to lash out at two men in an unexplained incident.

After years of delays, travelers must now show a REAL ID, a valid passport or another federally approved ID to travel. May 7, 2025, is the deadline.

Driverless tractor-trailers are already traveling on Texas roads, raising questions about safety, reliability and the future of trucking.

Tech expert Kurt “CyberGuy" Knutsson reveals that a new AirPlay bug lets hackers take over Apple devices via Wi-Fi with no clicks needed.

This Mother's Day, gift Mom tech gadgets that simplify life, connect and show love. Tech expert Kurt “CyberGuy" Knutsson offers some ideas.

Tech expert Kurt “CyberGuy" Knutsson reports that Tesla owners are facing threats as hackers weaponize leaked data. Are you next?

Kurt “CyberGuy" Knutsson discusses how a paper pill bottle could revolutionize pharmacy packaging and cut plastic waste drastically.

The private information of about 4 million people was exposed after a major data breach involving VeriSource Services, a Texas-based HR firm.

Archer Aviation and United Airlines have teamed up to offer a more environmentally friendly way to skip New York City's traffic jams and reach your destination more quickly.

Healthcare company data breaches have leaked personal data of millions of people in recent years, and the CyberGuy offers ways to keep your information safe.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Police around the world are adding robots powered by artificial intelligence to their departments, and Thailand has emerged as one of the key players.

Kurt "CyberGuy" Knutsson explains five cleanup hacks — a few smart automations and tools — to declutter your technology and keep things running smoothly.

Kurt the CyberGuy breaks down whether it’s better to remove your personal information from the web yourself or use a data removal service.

Google’s scam detection features, powered by artificial intelligence, are a significant step forward in safeguarding Android users from fraud.

The FBI has issued a warning that scammers are impersonating doctors, police and banks using spoofed numbers as "smishing" texts surge nationwide.

Communities with unreliable internet service stand to gain after Amazon's Project Kuiper launched its first full batch of satellites into orbit April 28.

Tech expert Kurt “CyberGuy" Knutsson says unsubscribing from spam might actually backfire. Learn when to avoid it and stop junk effectively.

Tech expert Kurt “CyberGuy" Knutsson talks about how the first nonstop beating heart transplant, called zero ischemic time, at Taiwan hospital changes surgery.

Kurt “CyberGuy" Knutsson: FBI warns of "time-traveling" hackers.

Kurt “CyberGuy" Knutsson talks about a soft, vine-like robot called SPROUT that aids safe survivor rescues in collapsed buildings.

Health insurance giant Blue Shield of California confirmed it had been sharing private health data of 4.7 million users with Google for three years without even realizing it.

Delta and JetZero’s blended wing body aircraft marks a meaningful step toward a cleaner, quieter and more efficient future for air travel.